macmiller
New Member

K-1 Line 20 Section Z

The K-1 info goes in easily except when dealing with line 20 Code = Z.    With code Z it has an asterisk

and shows 'STMT'.  The form shows as 'not done'.  There is a click through quick zoom to enter the 

199A information.  This quick zoom takes me to a screen that shows loss/income/section 179 items.  Nothing can be entered here.  I am not sure where the code Z information comes from or gets entered into.  Anyone familiar with K-1 entry that can guide me would be highly appreciated!

 

 

 

200320_0842_Code_Z.JPG200320_0843_CodeZ_on_K1_form.JPG200320_0844_Quickzoom_to_codeZ.JPG200320_0845_CodeZ_Section_Of_clickthrough.JPG

Irene2805
Expert Alumni

Business & farm

If you are in Forms Mode, on the K-1 Worksheet, scroll down to Sections D1 and D2 - Qualified Business Income Deduction Info.

  1. Enter the income in Section D1.
  2. In Section D2, mark the Yes box and enter the information below from the K-1 Statement.

 

It may be simpler for you to do this in the Step-by-Step interview rather than in Forms Mode:

  1. After entering the information for Box 20, after a few screens you will see We see you have Section 199A income.
  2. Mark the first radio button (The income comes from the partnersip that generates the K-1).  Click Continue.
  3. On the next screen, mark the boxes for the type of income the partnership has and enter it in the boxes that appear.  [See screenshot, below.]

Business & farm

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